The idea was to use the map sprite as a special icon when looking at the status screen (e.g. on the map) but I ended up never using it (I did a code search and there's no hits for it) so you can go ahead and use it for whatever you want! :)
Internally it's global.monster_data[monsterID,mond_SPRITE_SMALL] ("SPRITE_SMALL" rather than "SPRITE_MAP")